Russian government plans to allocate 33,3 billion rubles to United Engine Corporation in state guarantees

Russian government is going to allocate 6,68 billion rubles to United Engine Corporation (UEC) in state guarantees in order to finance the development of civil aircraft engines, said in the draft decree posted at regulation.gov.ru, Kommersant reports.

Moreover, according to the document, UEC will receive 26,59 billion rubles in state guarantees in order to secure performance of obligations of Oboronprom Corporation in the network of bond loans (01-03 series).

Oboronprom Industrial Corporation is the multi-industry group (part of Rostec State Corporation) comprising Russian Helicopters Holding Company and United Engine Corporation.